Welcome to our dedicated page for NeuroOne Medical Technologies Corporation news (Ticker: NMTC), a resource for investors and traders seeking the latest updates and insights on NeuroOne Medical Technologies Corporation stock.
NeuroOne Medical Technologies Corporation (symbol: NMTC) is a cutting-edge medical technology company based in Eden Prairie, Minnesota. The company specializes in the development and commercialization of innovative thin-film electrode technology designed for continuous electroencephalogram (cEEG) and stereoelectroencephalography (sEEG) recording, brain stimulation, and ablation solutions. These technologies are particularly beneficial for patients suffering from a variety of brain-related disorders, including epilepsy, Parkinson's disease, dystonia, and essential tremors.
NeuroOne's core business revolves around creating comprehensive neuromodulation solutions that integrate cEEG and sEEG recording, monitoring, brain stimulation, and ablation. This focus has led to notable advancements such as the Evo® sEEG system, which is the first FDA-cleared thin-film sEEG-guided RF system capable of both recording electrical activity and ablating nervous tissue, with the added benefit of temperature control.
The company is actively involved in various exciting projects and partnerships. One of their key initiatives is the Drug Delivery Program, which is expected to achieve several important milestones in the near future. Additionally, NeuroOne is continuously enhancing its product portfolio to better serve its target patient population.
Financially, NeuroOne has provided promising updates for the second quarter of the fiscal year 2024. The company’s recent business highlights include significant progress in their OneRF™ Ablation System and Spinal Cord Stimulation Program. Investors and interested parties can access more detailed financial results and updates through their quarterly conference calls and webcasts.
For more information or to get in touch with NeuroOne, please contact them at 800-631-4030 or email ir@nmtc1.com.
NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) hosted a corporate update for its fiscal fourth quarter ended September 30, 2022. The company highlighted significant milestones, including a $3.5 million payment from Zimmer Biomet and FDA 510(k) clearance for its Evo® sEEG Electrode technology, targeting a $100 million market. The initial stocking order has been shipped, and advancements in their OneRF™ ablation system were also reported. NeuroOne's financial standing remains strong with $11.1 million in cash and no debt, preparing for commercial launches in 2023.
NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) will host a conference call on December 13, 2022, at 4:30 PM Eastern Time, to discuss its fiscal fourth quarter and full fiscal year financial results ending September 30, 2022. The call will also include a corporate update. Participants can join via a live webcast or dial in at 877-407-8293. For further information about the company, known for its innovative solutions in treating neurological disorders, visit n1mtc.com.
NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) announced the successful completion of an animal feasibility study for its OneRF™ ablation system, which uses existing sEEG diagnostic electrodes for brain lesioning. The study, guided by Dr. Jamie Van Gompel at the Mayo Clinic, confirmed successful RF ablations that may improve procedure safety. The company plans to submit a 510(k) application for FDA clearance in Q2 2023. Additionally, NeuroOne is advancing therapeutic electrode technologies targeting markets worth $500 million to $6 billion.
NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) announced the shipment of its first commercial order of Evo sEEG Electrode technology to Zimmer Biomet, its exclusive global distribution partner. This marks a significant milestone for the company, as the Evo sEEG System is its second FDA 510(k) cleared product, targeting a $100 million market for brain mapping procedures. NeuroOne is also developing additional therapeutic electrode technologies for chronic conditions, with potential market values between $500 million and $6 billion.
NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) announced it will ring the Nasdaq closing bell on November 22, 2022, to celebrate its recent FDA 510(k) clearance for the Evo sEEG Electrode technology. This milestone supports commercialization efforts and enhances the functionality of the Evo sEEG System, designed for temporary brain signal monitoring and stimulation. CEO Dave Rosa expressed excitement over this achievement at the iconic ceremony, broadcast live from Times Square, New York City, at 4:00 p.m. ET.
NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) has received FDA 510(k) clearance for its Evo sEEG Electrode technology. This allows for temporary use (less than 30 days) in recording and stimulating electrical signals in the brain. The Evo system is significantly less invasive than traditional cortical electrodes, addressing a $100 million market for diagnostic brain mapping. NeuroOne plans to advance commercialization in partnership with Zimmer Biomet, and is also developing therapeutic electrode technologies targeting markets valued up to $6 billion.
NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) announced on September 22, 2022, the approval of equity awards to new employees as part of the 2021 Inducement Plan. Effective September 20, 2022, these individuals were granted options to purchase 1,000 shares at an exercise price of $1.97, based on the closing stock price on the grant date. The options vest over four years, with 25% vesting after one year and the remainder vesting monthly after that, contingent on continuing employment.
NeuroOne Medical Technologies (NASDAQ: NMTC) reported its third-quarter fiscal 2022 results, highlighting a net loss of $2.8M, a slight decrease from $3.0M in Q3 2021. Product revenue fell to $32,000 from $40,000 year-over-year, while collaboration revenue was impacted by FDA delays. Operating expenses decreased to $2.8M compared to $3.0M in the prior year. The company secured a $3.5M milestone payment from Zimmer Biomet for the Evo® sEEG electrode and made significant progress in product testing and FDA submissions.
NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) has re-submitted a special 510(k) application to the FDA on August 8, 2022, to extend the usage duration of its sEEG electrode from less than 24 hours to less than 30 days. This expedited review is expected to be completed within 30 days. Following a previous setback in May, where the FDA upheld a decision of not substantially equivalent, NeuroOne has addressed biocompatibility concerns. CEO Dave Rosa expressed optimism about the submission and continued discussions with the FDA.
NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) will hold a conference call on August 11, 2022, at 5:30 PM Eastern Time to discuss its financial results for the third quarter of fiscal 2022, which ended on June 30, 2022. This call will provide insights into the company's performance and strategic direction in developing minimally invasive solutions for neurological disorders.
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